John Wiley & Sons Signs 386,407 Square Foot Lease Renewal at 111 River Street in Hoboken Through Savills Studley
Hoboken, NJ (September 30, 2014)  

John Wiley & Sons Inc. (NYSE: JWA), a leading global digital and print publisher of essential scholarly journals, higher education teaching materials, interactive learning tools, books, and services and solutions in research, professional development, and education, has signed a 15-year lease for 386,407 square feet of office space at 111 River Street in Hoboken, in a transaction brokered by Savills Studley, the leading global commercial real estate services firm specializing in tenant representation.

The 550,000 square foot office building offers world-class office space and ground level retail. The new lease, originally set to expire in 2017, now extends until March 2033. Savills Studley’s Executive Vice President David J. Goldstein, Chairman and CEO Mitchell S. Steir, Executive Vice President Matthew P. Barlow, Senior Managing Director Daniel M. Foley, and Senior Managing Director Jason Perla represented the tenant in the long-term transaction, while David Hollander, Greg Tosko and Nick Hilton of CBRE represented the landlord, a subsidiary of Equity Commonwealth.

Leading the transaction and reflecting on its importance, Mr. Goldstein observed, “111 River Street is one of New Jersey Waterfront’s most visible and accessible addresses with dramatic views of Lower Manhattan, the Hudson River and the New York Harbor. This transaction reaffirms the strength of Hoboken’s office market, as well as Wiley’s commitment to the dynamic city of Hoboken and the state of New Jersey.”

As one of the early pioneers to the city’s waterfront office market, Wiley relocated its corporate headquarters from 605 Third Avenue in Manhattan to 111 River Street in July 2002. According to Mr. Barlow, following an extensive search throughout New York City and New Jersey, the company believed that maintaining their offices in Hoboken will best enable them to continue to provide best in-class services to their customers and partners. “This commitment reflects Wiley’s confidence in the Northern New Jersey market and its future as a hub for business, residents, and visitors alike,” he said.

Mr. Foley added that flexible lease terms, as well as unparalleled access to transportation, including direct access to the PATH, NJ Transit and ferries, helped solidify the decision. “Our team at Savills Studley successfully negotiated expansion and contraction rights at competitive lease rates to accommodate Wiley’s projected growth over the next 15 years,” he said.

Founded in 1807, Wiley develops and markets products and solutions to a diverse customer base that includes researchers, professionals, students, and educators. With approximately 5,500 employees worldwide, Wiley has nearly 70 facilities in 28 countries in Europe, Asia, Middle East and Africa, as well as Canada, Brazil and Australia, and customers in 211 countries and territories.

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

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